Performance Update

As of July 2025, Bursera Capital's total ROI is 1384.62% since the fund's inception in 2019, with Bitcoin standing at 1016.64% and the average fund reaching 594.89%. Returns are 10.85%, with the average fund reporting 11.92% and Bitcoin at 8.05%. Our Compound Annual Growth Rate (CAGR) of 54.96% continues to lead both Bitcoin (47.18%) and the average fund (34.61%). Bursera’s performance continues to reflect our disciplined portfolio management and proprietary protocol-driven trading approach. Recent legislative developments, including cryptocurrency bills passed by the U.S. House and White House initiatives to integrate digital assets into retirement and housing finance standards, further support Bursera’s strategic focus on consistent, sustainable returns within a clearer regulatory landscape.

Market News

Key developments shaping digital asset markets and policy this month:

• House Advances Crypto Framework: The U.S. House passed three landmark bills—GENIUS Act (stablecoins), CLARITY Act (market structure), and a CBDC ban—signaling bipartisan alignment on crypto regulation and setting the stage for Senate action later this year.
• White House Targets Retirement & Housing Integration: President Trump is expected to issue an executive order enabling 401(k) crypto exposure, while federal housing authorities explore recognizing crypto holdings in mortgage underwriting, accelerating institutional integration.
• TON Wallet Launch Expands Telegram Integration: Telegram rolled out its native TON Wallet to 87M U.S. users, triggering a Toncoin rally and expanding access to self-custodial assets, swaps, and staking directly within the messaging platform.
• SUI Selected as Corporate Reserve Asset: Nasdaq-listed Mill City Ventures raised $450 million to build a SUI-based treasury, backed by major investors including Galaxy and Pantera. The strategy marks one of the largest altcoin treasury deployments to date.
• JPMorgan–Coinbase Partnership Simplifies Crypto Access: JPMorgan announced credit card, rewards point, and bank account integration with Coinbase, making it easier for 80M+ Chase customers to purchase and fund crypto holdings through familiar financial tools.

White House Advances Crypto Integration as Congress Pauses for Recess

Executive action and agency moves aim to expand crypto’s role in retirement, housing, and federal reserves.

As Congress heads into its summer recess, federal crypto policymaking continues to accelerate through the executive branch. The Trump administration is preparing several major initiatives, including a sweeping digital assets strategy report, a potential executive order involving retirement accounts, and new guidance that could fold cryptocurrency into mortgage underwriting standards. These developments reflect the administration’s broader ambition to institutionalize crypto across core segments of the U.S. economy.

• Executive order may open retirement funds to crypto: President Trump is expected to issue an executive order directing 401(k) retirement plans to increase exposure to alternative assets, potentially including cryptocurrencies. If implemented, the move could bring digital assets into the portfolios of tens of millions of Americans, significantly expanding retail exposure.
• Digital assets strategy report expected this week: A comprehensive federal report on crypto, mandated by a January executive order, is due for release on Wednesday. Insiders expect detailed proposals on crypto reserves—including the proposed Bitcoin Strategic Reserve—as well as potential updates on taxation and cross-agency coordination.
• FHFA eyes crypto-backed mortgages: William Pulte, Director of the Federal Housing Finance Agency, has directed Fannie Mae and Freddie Mac to explore incorporating unconverted crypto assets into mortgage underwriting standards. The initiative signals an effort to integrate crypto into traditional financial infrastructure.
• Senate market structure bill enters drafting stage: While the House passed the Digital Asset Market Clarity Act, the Senate is developing its own market structure legislation. Lawmakers are soliciting feedback through August 5, though that falls during the Senate recess. Any final bill will require 60+ votes, including Democratic support, to replicate the GENIUS Act’s success.
• Crypto remains a top federal priority into year-end: Though Congress is pausing for summer, the administration’s actions signal that crypto will remain near the center of the federal agenda through late 2025. Regulatory and institutional frameworks continue to evolve, positioning the U.S. to scale digital asset infrastructure across sectors.

U.S. House of Representatives Passes Three Major Bills During July 2025 Crypto Week

Legislation advances with bipartisan support, setting stage for historic digital asset framework.

Crypto policy took a significant step forward as the U.S. House of Representatives passed three major bills: the GENIUS Act (stablecoin regulation), the CLARITY Act (market structure), and a prohibition on a Central Bank Digital Currency (CBDC). The votes signal growing consensus in Congress on the need for a federal digital asset framework, as lawmakers seek to clarify oversight and legitimize crypto infrastructure.

• GENIUS Act sets stablecoin standards: Passed 308–122 and signed into law by President Trump. Requires 1:1 backing by liquid assets (e.g., U.S. dollars, T-bills) and mandates monthly reserve disclosures. Establishes solvency and transparency requirements for issuers, supporting institutional adoption.
• CLARITY Act defines regulatory boundaries: Passed 294–134. Clarifies when tokens are classified as securities (under U.S. Securities and Exchange Commission (SEC) oversight) or commodities (under Commodity Futures Trading Commission (CFTC) jurisdiction), resolving long-standing uncertainty that has limited innovation and compliance clarity.
• CBDC ban underscores privacy priorities: House passed legislation prohibiting the Federal Reserve from issuing a central bank digital currency, with Republican lawmakers citing concerns over government surveillance and individual financial autonomy.
• Bipartisan momentum signals policy shift: Both the GENIUS and CLARITY Acts received strong cross-party support, suggesting digital asset regulation may now be viewed as a shared national priority rather than a partisan issue.
• Institutional readiness accelerates:Legal clarity on token classification and reserve standards reduces compliance risk and opens the door for deeper engagement by banks, fintech firms, and asset managers.
• Next steps in Senate review: The bills now move to the Senate, where lawmakers are working on parallel legislation. Final reconciliation and presidential approval could follow in Q4 2025 or early 2026.

Toncoin Soars as Telegram Rolls Out TON Wallet to 87M U.S. Users

Integrated wallet launch spurs price gains and widens adoption of TON blockchain ecosystem.

Telegram launched its native TON Wallet to U.S. users on July 22, 2025, embedding a self-custodial crypto wallet into chats for its 87 million American accounts. The move triggered a 3% price rally in Toncoin (TON) and marks a major step in mainstreaming crypto through mobile messaging infrastructure.

• TON Wallet now available to U.S. Telegram users: The integrated wallet allows users to send, receive, and store Toncoin, stablecoins, NFTs, and other digital assets directly within the app—no separate setup required.
• Toncoin gains momentum post-launch: The token rose 3% on launch day to $3.41, extending to over 12% weekly gains and more than 25% in the past month, reflecting renewed investor interest.
• Seedless, self-custodial wallet architecture: The wallet features a split-key recovery model that eliminates traditional seed phrases while maintaining full user control, streamlining onboarding for new users.
• TON Mini App ecosystem expands access: Wallet integration unlocks direct access to TON-based applications within Telegram, including marketplaces, games, and financial tools—blending messaging with Web3 utilities.
• U.S. launch follows global adoption surge: The rollout builds on 100 million wallet activations globally in 2024, advancing Telegram’s goal of positioning TON as the default blockchain layer for its user base.

Nasdaq Lender Commits $450M to SUI Token Treasury Strategy

Mill City Ventures launches large-scale digital asset reserve plan backed by major institutional investors.

Nasdaq-listed Mill City Ventures III announced plans on July 28, 2025, to raise $450 million through a private placement aimed at building a corporate treasury composed primarily of SUI, the native token of the Sui blockchain. The move marks one of the largest altcoin-focused treasury initiatives to date by a publicly traded U.S. company, positioning SUI alongside more established digital reserve assets like Bitcoin.

• $450M raised for token accumulation: Mill City issued 83 million new shares at $5.42 each, allocating 98% of the proceeds toward SUI acquisitions, with the remainder supporting its legacy lending business.
• Institutional backing underscores credibility: The raise was led by Karatage Opportunities, with participation from Galaxy Digital, Pantera Capital, Electric Capital, and the Sui Foundation. Galaxy Asset Management will oversee execution of the treasury strategy.
• Multi-channel token acquisition strategy: Mill City plans to acquire SUI through open-market purchases, private arrangements, and negotiated transactions with the Sui Foundation. The strategy is notable for being the first token treasury formally recognized by a major blockchain foundation.
• Strategic alignment with blockchain infrastructure: Mill City’s share price rose more than 20% following the announcement, reflecting strong demand for public equity plays linked to digital asset exposure.

JPMorgan Partners with Coinbase to Enable Crypto Access via Cards, Bank Accounts, and Rewards

Major banking integration simplifies fiat-to-crypto conversion for 80M+ Chase customers.

On July 30, 2025, JPMorgan Chase announced a strategic partnership with Coinbase to roll out integrated crypto purchasing capabilities across its financial products. The collaboration enables Chase customers to access digital assets through credit cards, reward points, and linked bank accounts, marking one of the most comprehensive crypto access initiatives by a major U.S. bank.

• Crypto purchases via Chase credit cards: Starting fall 2025, Chase cardholders will be able to directly fund crypto transactions on Coinbase using eligible credit cards.
• Reward point redemptions into digital assets: In early 2026, customers will gain the ability to convert Chase Ultimate Rewards points into USD Coin (USDC) at a fixed exchange rate of 100 points per $1.
• Bank account integration for direct funding: Chase accounts will be linkable to Coinbase for seamless fiat-to-crypto transfers, further simplifying the onboarding process for retail users.
• Streamlined access through trusted infrastructure: The rollout embeds crypto access into traditional banking channels, eliminating the need for third-party transfers or external wallets.
• Strategic alignment between institutions: JPMorgan’s emphasis on user empowerment and Coinbase’s focus on crypto adoption reflect a shared goal of bridging conventional finance and digital assets.
• Market reaction underscores institutional momentum: Both JPMorgan and Coinbase saw share price gains following the announcement, while USDC’s role as the bridge asset reinforces stablecoins’ position in the evolving financial stack.